Aon plc (AON) Declares $0.44 Quarterly Dividend; 0.9% Yield

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Go back to Aon plc (AON) Declares $0.44 Quarterly Dividend; 0.9% Yield

Pandemic pushes U.S. insurers to avoid already strained senior care market

July 9, 2020 10:04 AM EDT

By Suzanne Barlyn

(Reuters) - The coronavirus pandemic has made it even harder for senior-care centers in the United States to find or afford standard liability insurance, with rates soaring by as much as 300%, insurance brokers said.

Residential care communities like nursing homes and assisted-living facilities had already faced escalating prices and a dearth of insurance providers for years. Outbreaks of the novel coronavirus and a related respiratory disease called COVID-19 in such centers only exacerbated the problem.

"It was already on an upward trajectory but COVID accelerated it," Deepa Desai, who heads insurance broker Aon... More